L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Woodline Partners LP

Woodline Partners LP cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 49.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,743 shares of the company's stock after selling 215,398 shares during the period. Woodline Partners LP owned approximately 0.11% of L3Harris Technologies worth $45,577,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. iSAM Funds UK Ltd acquired a new position in shares of L3Harris Technologies in the fourth quarter worth about $1,088,000. Victrix Investment Advisors acquired a new position in L3Harris Technologies in the 4th quarter worth approximately $407,000. Vident Advisory LLC boosted its stake in L3Harris Technologies by 30.9% in the 4th quarter. Vident Advisory LLC now owns 109,263 shares of the company's stock worth $22,976,000 after purchasing an additional 25,806 shares during the period. Westwood Holdings Group Inc. grew its position in L3Harris Technologies by 8.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 19,009 shares of the company's stock worth $3,997,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new stake in L3Harris Technologies during the 4th quarter valued at $43,446,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

LHX opened at $230.96 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market cap of $43.18 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. The stock has a 50-day moving average of $215.12 and a 200-day moving average of $219.03. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the company earned $3.06 EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio is 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LHX. JPMorgan Chase & Co. decreased their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Bank of America lowered their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup lowered their price objective on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $256.56.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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